Missing the Mark: Trump Investments Not Likely to Help Those Most in Need

The Trump administration says its trade and investment policies aim to help struggling Americans. A preliminary look at recently announced investments shows the administration could be missing its target, observe RealEcon Associate Director Allison J. Smith and former intern Madeline Burns. Read the study 

How Trump Has Made Emerging Market Assets Great Again

A flurry of White House economic and trade policies intended to put “America First” have yielded unexpected returns in developing economies around the world. It is a timely reminder of how policy decisions can feed through to global financial markets in unexpected ways, argues CFR Fellow Rebecca Patterson. Get her analysis 

A Guide to Trump’s Section 232 Tariffs, in Maps

President Donald Trump has launched a wave of Section 232 tariffs and investigations, seeking to protect U.S. national security. Those graphics show the scale and structure of U.S. reliance on foreign suppliers for products ranging from cars to copper, write Senior Vice President, Director of Studies, and Maurice R. Greenberg Chair Shannon K. O’Neil, former Research Associate Julia Huesa, and Research Associate Gabriela Paz-Soldan. View the piece 

The (Temporary) End of the U.S. Development Finance Corporation

For the Development Finance Corporation, paralysis means pausing investment activity and dealmaking mid-transaction without a clear restart timeline, indefinitely holding project development activities, and potentially causing permanent harm to the international credibility of the United States’ leading development finance tool as a reliable long-term financial partner, writes CFR Fellow William Henagan. Read his take 

China, the United States, and the AI Race

CFR President Michael Froman shares his take on artificial intelligence (AI) competition between the two countries. Check out the article

Will Trump’s $20 Billion Backing Help Milei Change Argentina’s Fortunes?

Argentina has already gone through more than $50 billion from the International Monetary Fund. Despite the assurances of U.S. officials, experts remain skeptical that Argentina can achieve a different result with this currency swap, writes CFR Fellow Brad W. Setser. Read the article

Global Monetary Policy Tracker

CFR’s “Global Monetary Policy Tracker” compiles data from fifty-four countries around the world to highlight significant global trends in monetary policy. CFR Fellow Benn Steil illustrates who is tightening policy, who is loosening policy, and the policy stance of the world as a whole. Explore the tracker 

Reading Schmitt in Beijing: How China’s Rise Provoked America’s Illiberal Turn

China’s illiberal rise is the force pulling the United States away from liberalism. That turn would hardly have surprised the twentieth-century thinker, jurist, and political historian Carl Schmitt, observes Steil. Read the Foreign Affairs piece

CFR Fellowship Opportunities

CFR is now accepting applications for the 2026–27 International Affairs Fellowship (IAF) program.

• The International Affairs Fellowship
• The International Affairs Fellowship in Indonesia
• The International Affairs Fellowship in Japan
• The Robert A. Belfer International Affairs Fellowship in European Security

The programs offer transformational opportunities for mid-career professionals who have a demonstrated commitment to a career in foreign policy. Awardees gain experience working in a new environment in the United States, Indonesia, Japan, or Europe; at an international organization; or at CFR (for IAF awardees coming from government). Applicants must be U.S. citizens. 

The application period will close on October 31. Visit cfr.org/fellowships or email fellowships@cfr.org for more information.